Thursday, February 1, 2024

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), T-Mobile US, Inc. (TMUS) and Booking Holdings Inc. (BKNG). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Abbott’s shares have outperformed the Zacks Medical - Products industry over the past year (+2.8% vs. +2.2%). The company’s pipeline is generating several new growth prospects, which will help sustain the positive momentum and contribute to the strong growth projection in 2024.

Alinity, the company’s next-generation suite of systems, is a key driver in the core lab diagnostics business. EPD's impressive stretch of strong performance stems from the company’s unique business model. Freestyle Libre CGM device is also on a great trajectory, continually outpacing market growth.

Within Nutrition, after a period of hiccups, Abbott has finally reestablished itself as the market leader in the infant formula business, underscoring strong customer confidence in the company's products. However, the slump in COVID-19 testing-related sales is hurting Abbott’s overall growth. Tough macro conditions also pose a concern for its operations.

(You can read the full research report on Abbott here >>>)

Shares of T-Mobile have outperformed the Zacks Wireless National industry over the past year (+10.2% vs. +2.8%). The company recorded 5.7 million postpaid net customer additions and 2.1 million high-speed Internet net customer additions in fiscal 2023. Both metrics are reportedly the best in the industry.

Its 5G coverage exceeds 330 million people, a greater footprint than AT&T and Verizon combined. A higher adjusted free cash flow highlights efficiency in operations and implies that the company is well-positioned to invest in growth initiatives, pay debts and dividends.

However, lower sales of prepaid and Assurance Wireless devices affected revenue from Equipment sales. Weak demand for prepaid services and declining prepaid ARPU is a headwind. High debt burden and macroeconomic challenges remain concerns.

(You can read the full research report on T-Mobile here >>>)

Shares of Booking have outperformed the Zacks Internet - Commerce industry over the past year (+42.9% vs. +18.3%). The company is benefiting from substantial improvement in its booking trends. Growing demand for travel and solid momentum in booked room nights are driving growth in the gross bookings. Further, strong global leisure travel demand is a plus.

Furthermore, solid momentum across merchant, advertising and other businesses is a major positive. Additionally, strong growth in rental car and airline ticket units is acting as a tailwind. For 2023, the company expects more than 20% year-over-year growth in gross bookings.

Additionally, strengthening alternative accommodation business and flight capabilities are a positive. However, weakness in agency bookings is a headwind. Further, intensifying competition remains a major concern.

(You can read the full research report on Booking here >>>)

Other noteworthy reports we are featuring today include Chubb Limited (CB), HCA Healthcare, Inc. (HCA) and KLA Corporation (KLAC).

Director of Research

Sheraz Mian

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>